Taxes - 2009 - What I wish I knew my first year

It's been a while, and I've been a little bit under the weather so what better time to talk about a dreary subject than taxes. Yay!!!!!

Short and sweet.

Do I have to pay quarterly taxes?

Yes, Virginia.

Sole Prop

Also, I use File Taxes to produce the 1099 for my scopists and/or proofers.

If you paid anyone more than 600 this year, you need to send them a 1099. If any agency paid you more than $600 this year, they need to send you a 1099. best of all, they need to have it to you by January 30, 2010.

Oh, and if you made less than $600 from an agency, still need to report it even if you dno't get a 1099 from said agency.

Happy Tax filing.

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Comment by Jennie Ann on January 9, 2010 at 9:45
OMG, Kelli. That is awful. I hope you get your money back so you can pay Federal with it.
Comment by Kelli Combs (admin) on January 9, 2010 at 9:24
Well, I sent out a $30,000 check to Internal Revenue Service in Fresno thinking it was for Federal taxes and State taxes cashed my check. That was supposed to go for federal taxes. I am going to have a hell of a time getting that money back from the state since they don't have any money. Last time they owed me money (about 7 months ago) they gave me an IOU.

They make it so difficult online to find a damn address to send money. You would think they would want your money and would make it easy. Guess not.
Comment by Kyung on January 9, 2010 at 9:17
The address that I send my quarterly paymenst to is PO Box 510000, San Francisco, CA 94151-5100.

Or you can do it online. But it's probably too late for this quareter. You have to set up an Internet account, and that takes 15 days. EFTPS
Comment by Kelli Combs (admin) on January 9, 2010 at 9:14
Hey, Kyung

Do you know what the address is for sending in your quarterly tax payments to the IRS? I sent in a payment about a month and a half ago to the Blythe Ave. in Fresno address and the check came back to me. I looked online and was not sure where to send it. Do you know?
Comment by Kelli Combs (admin) on January 5, 2010 at 14:22

You always have the best advice. I love your blogs. We can all learn from them.
Comment by Jennie Ann on January 5, 2010 at 9:42
Very timely topic. In May of 2008, there was approximately 67,000-plus pages to the IRS Tax Code. Nobody understands this code thoroughly. You could give your tax returns to three reputable CPAs, and you will most likely get back three different tax returns.

This blog is a great reminder to us all, since it is January 2010, to keep good records throughout the year. That way, when it comes time to do taxes, it won't be as difficult to gather the paperwork needed.

I use Turbo Tax "Home and Business" software. This edition lets you print out the 1099 forms to subcontractors and the 1096 form due to the IRS by the end of February. It also gives you the ability to prepare the State taxes. I think you get one free e-file too. Some States will let you e-file the tax forms, but you must mail in the money that is owed, if any.

The thing I like about TurboTax is it pulls up my personal info from the previous year. All in all, I highly recommend TurboTax: Turbo Tax Info.

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